Suzlon Energy Ltd. has been on a dream run this past month. Just today, shares of the company surged up over 6% to hit an intraday high of ₹12.15. Shares of the company have climbed up nearly 40% in the past month.
The Investment: If you had invested ₹10,000 in Suzlon a year ago on June 7, 2022, you would have been able to buy approximately 1,344 shares, as the stock closed at ₹7.44. With the current market price at around ₹11.60, your investment would now be worth approximately ₹15,590.40. That’s a substantial return of over 55% in just one year.
Background: Suzlon is a prominent player in the renewable energy sector, and has been in the news recently for several positive developments. The company’s shares surged to a new 52-week high, driven by a series of successful contract wins and strong financial performance.
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Just yesterday the company announced becoming the first Indian wind energy company to reach 20 gigawatt of wind energy installations worldwide. Last month, Suzlon bagged a major order of 300 megawatt from Torrent Power Limited, marking its fourth order from the group.
Despite a decrease in revenue, Suzlon turned a net profit of ₹319.99 crore in the March quarter, a significant improvement from a loss of ₹205 crore in the same quarter last year. This turnaround was largely due to a reduction in expenses. The company also reported a decrease in net debt to ₹1,180 crore, down from ₹5,796 crore in the same quarter last year.
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Price Action: Suzlon’s share price was up 3.51% at ₹11.80 in the late hours of trading on Tuesday.
Disclaimer: Benzinga India doesn’t give financial advice. The above article is for educational purposes alone.
Editor’s Note: Artificial intelligence was used as a secondary aid in the writing of this story.
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